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« Chris Whalen Torches JPM: "Ina Drew Is A Scapegoat, Jamie Dimon Instructed London Office To Dump Hedging' | Main | UPDATE: Eric Holder Got Hacked! »
Thursday
Mar142013

Why Congress Will Never Cut Spending

'We'll fight it tooth and nail!'  Under no circumstances!'

A textbook example of why Washington will never cut spending.

One minute highlight clip.  K Street lobbyists own Capitol Hill.

On Squawk Box this morning, David Crowe CEO of the National Association of Home Builders insists that the mortgage interest deduction not be eliminated.

---

Full interview:

Housing rebound not so strong.

Housing Market May Not Be as Healthy as It Appears

David Crowe, National Association of Home Builders, sifts through the data and explains why the housing market may not be as healthy as it appears, and why he believes there will be no real momentum in the sector for the remainder of the year.

 

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Reader Comments (14)

If you watch the full interview, the final minute includes discussion of Canada and the UK having gotten rid of their mortgage interest deduction, and the world didn't end.
Feb 27, 2013 at 9:41 PM | Registered CommenterDailyBail
Watched the whole interview this AM, DB. Wow, that guy knee-jerked the truth out shocking even Kernen and Becky Buffett. Wonder if he realized that was not a smooth delivery. At least Becky and JoeyK came back at him a bit...
Feb 27, 2013 at 11:17 PM | Unregistered CommenterJosie
They were all somewhat shocked by his response, but they shouldn't have been. Par for the course for lobbyist scum.
Feb 27, 2013 at 11:54 PM | Registered CommenterDailyBail
Look, congress will never cut government spending because it fuels campaign bribes. Get used to it, or pass public funding of campaigns! One way or another consumers and taxpayers will pay; why not at 1/10th the cost?
Feb 28, 2013 at 1:24 PM | Unregistered CommenterJack Lohman
Jack

I have long agreed with you. It would not be a simple task, but public financing is probably the only solution.
Feb 28, 2013 at 2:19 PM | Unregistered CommenterDailyBail
I love the part after 18 mo. of telling us housing is getting better. Last Mo. things are realy starting to pick up...Now just yesterday they say things arnt realy getting any better. Dont Ya Love Facks........Dem. just hate them dont they....The Mag. on my 9 S&W only hold 7, so im save with Shotgun Joe........Fack: my mags realy hold 15. But im good with Joe Bimbo, becoouse I said they are 7 round......thinkin like the goverment..!
Feb 28, 2013 at 10:00 PM | Unregistered CommenterTexas Dar
Are there still companies building homes? Where?
Mar 1, 2013 at 10:46 AM | Unregistered CommenterMiguel Grande
Not true. They cut spending all the time. Why, one day they'll tell you that they're going to increase spending on military "defense" (LMFAO) by 30%, and the next day they'll say they changed their minds, and they're only going to increase spending by 20%. There's your cut in spending.

Why, they're the world's biggest penny-pinchers, right?
Mar 15, 2013 at 2:08 PM | Unregistered CommenterBig M
Well, I hate to stir up controversy, but I agree with the lobbyist on this one. Why? Not because lobbyists are not traitors who have damaged our entire country just so they can line their own pockets; in fact they are worse than that. No, I agree with him because I am not willing to support anything that gives the Feds one more dollar. Not one dollar more. Heck, not one cent more! Nothing more, period! No more money, no more regulations, no more power over any facet of my life.

Look, you think you can solve things by giving a little more taxes so that they will "compromise" and balance the budget? You are deluded. The people inside the Beltway are sociopaths who will NEVER be satisfied until they own and control everything and you are in chains and helpless. No more for them. Not new taxes on mortgage interest, not new regulations on how they steal our income, not a new anything. They are liars and thieves, and the only reason why you are even alive is that they have not yet figured out how to make a bigger profit by killing you.

Wake the h*&l up!
Mar 15, 2013 at 2:10 PM | Unregistered CommenterJason Calley
Jason

The mortgage interest deduction is grossly unfair to renters and is a boondoggle for taxpayers. And, yes I'm a homeowner. There is no reason to give a tax break to anyone who pays more than $500k for a home. Period. It is off the charts ridiculous.
Mar 15, 2013 at 2:36 PM | Unregistered CommenterDailyBail
Taxes for roads and bridges, perhaps and depending.
Federal control over those interstate projects? Perhaps, and depending.
Making a living out of lending other people other people's money, regardless?
Powerful enough to make that very industry APPEAR the most profitable because most necessary?
That is evil.

I am with Jason.

Take banking and finance out of life altogether, as an industry unto its own,
and the world will be a much better place in a generation.

People will continue to work and to build and to rebuild.
Heal.
Because when left to their own devices they will do what they love to do.
And mostly that involves caring for others and being cared for, when we are sincere.
Some may have a difficult time adjusting.
The rest of us will rather easily coordinate and commune.
The psychopathy must end.
Mar 15, 2013 at 11:19 PM | Unregistered CommenterJEFF
I'm with Jason and Jeff. Stop feeding the beast, and if you think that feeding it someone elses money will lighten your load
well, your dumber than a box of rocks.

Tax Jack more to pay for my chains,
it's not your fault I have no brain.
Mar 16, 2013 at 12:00 AM | Unregistered CommenterPete
Government takes too much of our money already. Why concoct ways for them to get more of it? They use the money for illegal wars, crony bailouts and to restrict our freedoms. The less money government gets the better. We need a Constitutional review of all programs and departments and those that fall outside the restraints imposed by the Constitution should be eliminated.
Mar 16, 2013 at 9:50 AM | Unregistered CommenterParis
@ Mar 15, 2013 at 2:10 PM | Jason Calley, you sound like me. You know whats wrong and how to fix it. But cand do a dam thing about it....

@ Paris, very good point. I apoint you to head it up. Question, where are you going to start. Who are you going to sit down, and hear what you have to say....?

Today its them on the inside, and us on the out side. 1900 would of been the last year we could of done something about goverment gone wrong. And im not sure we could of did anything about it evan then......

~~~~~~~~~ Were Fu*ked ~~~~~~~~~~~~~and dun run out of ways to save our self's !
Mar 16, 2013 at 4:23 PM | Unregistered CommenterTexas Dar

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